[miningmx.com] – GLENCORE may have backed off a proposed merger with Rio Tinto, but the Anglo Australian company remained vulnerable, said Bloomberg News citing an analyst.
“The pressure is on Rio now,” Chris LaFemina, a mining analyst at Jefferies, said in a note reported by Bloomberg News and republished in BDLive.
“If Rio management does not deliver material capital returns to shareholders, as promised, or if the iron ore price sharply falls next year, Rio could become much more vulnerable.”
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